GUANGZHOU, China, Sept. 2, 2016 /PRNewswire/ -- MINISO, an international fast fashion designer brand, signed a Comprehensive Strategic Cooperation agreementwith its American partneron August 3, 2016. A representative from the U.S. Mr. Matthew Liang, MINISO global co-founder Mr. Ye Guofu and MINISO Asia Pacific vice President Mr. Li Minxin attended the signing ceremony.
As the most rapidly expanding real retail brand in the world recently, MINISO has opened 1,400 stores around the globe within three years. Its global revenue hit RMB5 billion (USD750 million) in 2015 and is expected to grow to RMB10 billion.
Since its foundation, MINISO has been popular among consumers due to its comfortable shopping environment, good, affordable products and special business model of global design, international marketing and being made in China.
After focusing on markets in Japan and China, MINISO has successively signed strategic cooperation agreements with 36 other counties and regions, among which the United States is the most developed. MINISO's cooperation with an American representative shows that its products and business model have been accepted by the global market.
During his signing speech, Mr. Ye said, "The American retail market is highly developed, and after this cooperation agreement both parties will make further cooperation in various aspects such as product research and development, model updating and talent training. The American market is important for MINISO to become a flagship global retail chain and we are confident of opening a larger market in the U.S. together with our partner."
Mr. Liang added, "The global economic downturn has taken its toll on the quality of life for some Americans, which could be alleviated by MINISO offering a new shopping experience to the American market. We look forward to the group making better use of American market potential."
The signing of this agreement generally completes MINISO's international strategy on the Pacific Rim, and provides a solid foundation for the company's future expansion plans into more countries and regions.
